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Prepare Sarjit journal entry to record the sale

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Reference no: EM132836278

Question - Sarjit Systems sold software to a customer for $230,000. As part of the contract, Sarjit promises to provide "free" technical support over the next six months. Sarjit sells the same software without technical support for $200,000 and a stand-alone six-month technical support contract for $50,000, so these products would sell for $250,000 if sold separately.

Prepare Sarjit's journal entry to record the sale of the software. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM132836278

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